Google Pulls the Trigger on China
In short: Google.cn now redirects to Google.com.hk, where mainland users can get uncensored search results.
Aside from the fact that this will in all likelihood only last for a few hours until the Great Firewall "fixes" it, how would we monkeys profit from this?
The obvious - Buy Chinese Internet - probably overdone already, esp on BIDU. But you also have SOHU and, to a lesser degree, SINA. A wildcard here is MSFT (Bing China). AND, if you can trade HK-listed, Tencent is another possible winner.
The also obvious - Short GOOG. A bit dangerous, but self-explanatory.
The tin-foil hat - Double-down on TBT (UltraShort 20+ Year Treasuries) and TBT calls. China angry --> China dumps enough UST just to make it felt without really hurting themselves, or even just further reduces pace of purchases.
Of course, by no means is this an exhaustive list...